We still are holding our bullish bias on this pair but we are approaching a key area, we will be looking to see how whether the daily candle can close above the 151.000 handle which could encourage a bullish rally to year highs. However, price is approaching key fib levels of previous swing and stochastic is signalling overbought so we are expecting a retracement ...
Daily chart showing BITTREX:BTCUSDT approaching the bottom of the parallel channel and more importantly, the Weekly bear trend it left back in April. Should bottom of the channel break then there is a good chance of us returning to the overall downward trend that start at beginning of the year. #PrayForBTC
Gold is in a little 1hr channel, lets wait to see the price action. if breaks to the upside we continue bullish until 1310 region as target 1 and 1325 region as target 2. Also is touching a Daily strong trend line. If the price continue dropping we can expect around 150 200 pips more. Keep an eye on this one..
-Description potential false breakout, price closed above channel but was unable to sustain this and re-entered the channel. i am anticipating price to fall to the support of the channel or moving averages may act as dynamic support so, i am anticiapting 2 enteries, 1st held till moving average (dark blue MA), 2nd held till channel support.
I apologise for fuzzy video quality in latter half of this video. It's problem I'm having in a few vlogs, that doesn't seem related to my system or internet connection. But fuzzy as it becomes the overall outline of the potential reversal set up is still well visible. See also https://www.tradingview.com/x/CC0gwjwm/